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 Replies: 128 / Views: 18,812 |
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Valued Member
United States
264 Posts |
They can track transactions, true! Yet, they cannot track who made the transaction because the system does not record MacID's or user names. Here is a real Litecoin transaction list of which no one will ever find out the name, address or first born son of the persons who participated: http://explorer.litecoin.net/block/...d3434c26789cJenger, please do not be disappointed by this thread, remember this: Quote:
It is impossible to defeat an ignorant man in argument.  |
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Valued Member
 United States
239 Posts |
I'm not disappointed I just wish I bought 10 btc right after making this thread as they are now over $40/btc =(
I joined btcja.. I think I am going to buy some btc over time and lend it out to people & collect interest. I've been reading & reading info the last 3 days on this, I am definitely into it.
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Valued Member
United States
264 Posts |
Have you thought of the "pump and dump" strategy yet?
You could mine Bitcoins and trade them in for silver.
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Valued Member
United States
239 Posts |
So I figured I would just update my post a bit.
Its been ~ 17 days since I wrote this post. Bitcoins seemed to of x2 in the last 2 weeks and is now roughly $60/btc.
It looked like a textbook crash was coming around the $41 - $44 mark and then it just soared back up.
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Valued Member
United States
264 Posts |
And... Litecoin is holding steady at $.50 right now.  |
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Valued Member
Canada
281 Posts |
Nothing beats physical in your hands...nothing.
Its seems like a great idea because it's out of
the banksters control, but how long can THAT last?
And what if there's an interruption by whoever or
whenever of the internet? what happens then?
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Pillar of the Community
United States
1796 Posts |
Quote:
Yet, they cannot track who made the transaction because the system does not record MacID's or user names. That's not quite true, actually. One can track the *payment* addresses (rather than IP addresses) between transactions and it takes some careful sleuthing and traditional detective work to figure out where things go. The system doesn't make it easy, but it is a far cry from impossible and a number of people have been busted for money laundering this way. Edited by SteveCaruso
03/20/2013 9:38 pm
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Valued Member
United States
380 Posts |
Bit coins look to me to be very similar to a web based Ponzi scheme. The miners are paid with the investments other miners are putting in,to mine the bits that they get paid for. Only this takes smarts, time, and a good graphics card. Am I wrong? Someone down the road is going to get the short end of the stick.
Edited by Arcticsparky
03/20/2013 10:17 pm
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Pillar of the Community
Israel
2420 Posts |
Bit coins are untaxables, and are not tracked at the moment.
This means that for the average Spanish person, who fears coming levy on his saving account, this sound like a magic solution.
As gold and silver might not be available close to spot (VAT/shortage at specific geographic location), they want to scare their holdings away from the bank ASAP.
If the Cyprus levy program will get real, I expect the same to happen all over Europe.
Basically, yes, the Bitcoin is somewhat a Ponzi scheme, but it has the potential to be the greatest one ever, so there is some sense of buying some as a gamble, and slowly releasing them back to the market as prices rise.
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Valued Member
United States
264 Posts |
I am not advocating Litecoins as an investment but rather if you or someone you know are good with computers, now is the time to consider mining them and converting LTC to silver. I trade LTC to silver using: http://www.allthingsluxury.biz |
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Valued Member
United States
239 Posts |
I wish I could start mining but my computer is terrible, Id end up using more $$ in electricity than its worth. I have 1.5 LTC at the moment in my wallet (freebies lol) I think mining LTC is the way to go right now because everybody is buzzing about BTC.
With the difficulty of mining getting higher & higher, even these new asic's will be worthless.
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Valued Member
Canada
281 Posts |
There's an article that appeared yesterday on 24hgold about Bitcoin vs gold by James Cox, so go look it up, its a very good read  |
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Pillar of the Community
Israel
2420 Posts |
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Valued Member
United States
380 Posts |
There we go, the government just created a whole bunch more criminals to milk. They are almost as good at creating criminals out of thin air as they are currency out of nothing. They don't want anybody but themselves having any pretend money to make out of nothing. Bitcoins are a miniature version of the Federal Reserve. Only it isn't paper, but graphics cards solving a puzzle. Quote:
Basically, yes, the Bitcoin is somewhat a Ponzi scheme, but it has the potential to be the greatest one ever, The Federal Reserve is the greatest Ponzi scheme ever. Edited by Arcticsparky
03/22/2013 10:55 am
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Valued Member
United States
123 Posts |
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Replies: 128 / Views: 18,812 |
First Page
Posted 03/05/2013 08:32 am
